From Earlier: Wedbush Lowers Acme Packet PT: Weakness "Not A Complete Surprise"

Wedbush lowered its Acme Packet APKT price target from $29 to $19 and maintained its Neutral rating in a research report published Friday. in the report, Wedbush stated, "With the third miss in the past four quarters, the company once again cited weak service provider demand in North America as the primary reason for the revenue shortfall. We believe weak results are not necessarily a surprise given the challenging macro environment which has caused carriers to delay network investments." Later in the report, Wedbush noted, "We advise investors to remain on the sidelines until visibility into the spending environment improves and wait for signs that the company's competitive positioning has stabilized." Shares of Acme Packet were trading at $15.56 at the time of posting, down 15.44 percent from Thursday's market close.